Down the years we’ve grown used to – make that tired of – politicians talking tough on crime and doing nothing about it.

Nevertheless, even by their low standards, this FT headline suggests they are plunging to new depths; even giving up completely: “Small UK companies set to be excluded from anti-fraud legislation.”

It’s not 1 April, it’s not a joke. It’s true. Ministers are planning to exclude small UK businesses from anti-fraud legislation by narrowing the scope of a criminal offence targeting companies that fail to prevent economic crimes. Only larger companies are to be covered, said one Home Office official, “to avoid burdening smaller businesses”.